Nigeria’s securities regulator wants to increase registration fees for cryptocurrency companies by 400%.

The rule amendments for cryptocurrency issuers, exchanges and custody platforms include an increase in all supervisory fees. Instead of an application fee of 100,000 naira ($64) and a registration fee of 30 million naira, the Securities and Exchange Commission (SEC) now wants 300,000 naira for every application and imposes a registration fee of 150 million naira on cryptocurrency companies. I hope to impose it.